4. (10 points) Consider the following utility maximization problem: max (X1) /2x2 subject to *1 + 2x2 = C, where c > 0 represents the
4. (10 points) Consider the following utility maximization problem: max (X1) /2x2 subject to *1 + 2x2 = C, where c > 0 represents the constant constraint. (1) Solve the above problem. (2) Check that the sufficient condition for maximization is satisfied. (3) Let V(c) denote the value function. Find V(c)
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